National Petroleum Company (NPC), the upstream oil and gas platform company of Citadel Capital, said it has increased its production by 1,700 barrels of oil per day (BOPD) in the Sukheir Bay Field.
In a press statement, the firm said this development is expected to increase NPC’s total daily oil production from its Shukheir Marine properties to 2800 BOPD. The field is located approximately 125 km north of Hurghada on the western coast of the Red Sea.
NPC’s concession operator, Offshore Shukheir Petroleum Co. Ltd, a joint venture company of NPC’s Petzed Investment and Project Management Ltd and the Egyptian General Petroleum Company (EGPC), completed the drilling of the Shukheir Bay-6 well (SHB-6) to the Kareem reservoir in November 2010.
“Testing on the well, which was completed at the end of November, revealed an initial production rate of 1,700 BOPD of high-quality, sulfur-free 41 API crude,” said Mohamed Farid, CEO at NPC. “We…will continue conducting tests to further delineate the size of the reservoir and reserve volumes.”
Additional reservoir modeling has also been initiated to address the possible extension of the Kareem and the confirmation of additional upside in the primary Lower Rudeis reservoir.
“If we continue to achieve positive results this may justify additional drilling to either or both horizons,” added Farid.
